Titanium Dioxide Market
Titanium Dioxide Market (Application - Paints and Coatings, Plastic, and Paper) - Global and China Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Press Release :
Construction Boom Worldwide Drives Global Titanium Dioxide Market
The global titanium dioxide market has a consolidated landscape with a few well-entrenched and well-known names dominating it. Together, these leading players account for most of the share in the market. This, however, does not mean competition is moderate. If anything, it is healthy with giants trying to increase their production capacities to cater to the ever surging demand in the global titanium dioxide market. Such prominent players are also seen competing on the basis of price, product, technical service, and offering of high-end pigments.
Mainly fuelling the global titanium dioxide market is the flourishing construction sector worldwide. They are used to coat buildings and structures to prevent them from being affected by smog. Further, demand for vehicles lighter in weight too is providing a major boost to the global titanium dioxide market since it is used for coating those.
Posing a challenge to the global titanium dioxide market, on the other hand, are the stringent environmental rules being framed. Toxic solid waste is a by-product of titanium dioxide production. This has particularly affected its production in developed nations where environmental regulations are particularly strict. To overcome the hurdle, manufacturers in China are seen opting for other newer and better methods that have a limited fallout on the environment.
Transparency Market Research’s report on the global titanium dioxide market finds that it would rise at a steady 3.7% CAGR from 2015 to 2023. At this pace, the market which was worth US$12.18 bn in 2014 would likely become worth US$16.79 bn by 2023-end.
Paints and Coatings Application Generating Maximum Revenue in Global Titanium Dioxide Market
Titanium dioxide finds application in different areas such as paper, coatings, plastic, and others. Paints and coatings among them is driving most of the demand at present. In the next few years, it is expected to generate most of the income as construction and automobile manufacturing soars with rising incomes of people. Currently, paints and coatings use up almost half the titanium dioxide produced in the world.
In the near future, its usage in plastics is set to rise at a breakneck pace thereby providing a major fillip to the global titanium dioxide market. Titanium dioxide find application in bettering numerous characteristics of plastics such as color, opacity, and strength. And with the ever-surging demand for plastic on account of the burgeoning world trade, the global titanium dioxide market growth it expected to remain supported.
Asia Pacific Market, Powered by China, Seeing Swift Growth
Geographically, the global titanium dioxide market is spread across Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Among them, Asia Pacific titanium dioxide market is predicted to play a pivotal role, driven by China mainly. This is because of the large-scale manufacturing of various consumer goods such as automobiles in the nation. An exploding construction sector too is lending support to demand. Further, plastic manufacture and usage is the largest in the nation. All these are because of the low cost land and labor that has drawn numerous manufacturing companies to set shop there.
North America and Europe trail Asia Pacific closely with respect to revenue generation. The regions are seeing soaring demand and sales of titanium dioxide owing to strong demand for automobiles and the construction sector regaining steam post the 2008 economic meltdown that rattled their economies.
CRISTAL, Chemours, Huntsman International, Tronox, and KRONOS Worldwide are some of the leading players in the market.
Titanium dioxide is a white colored, solid, inorganic material with high thermal stability and poor solubility. Major raw materials used in the production of titanium dioxide include ilmenite and rutile. Major processes used in the manufacturing of titanium dioxide include sulfate and chloride processes.
This report comprises in-depth analysis and forecast of the titanium dioxide market on a global as well as regional level. The report includes forecast for the period from 2015 to 2023 in terms of volume (kilo tons) and revenue (US$ Mn). Quantitative data has been derived through extensive secondary research of the global titanium dioxide market. Secondary sources typically include company websites, relevant magazines, government documents, and press releases. The top-down approach was adopted to derive the regional numbers from global revenue and volume figures. Furthermore, the bottom-up approach was employed to derive data for various application segments based on demand for titanium dioxide in each geographic segment. A combination of top-down and bottom-up approaches helps in validation of the quantitative data of the market. The data was further validated with the help of primary research with industry experts to ensure accuracy of derived numbers.
Detailed analysis of various factors driving the global titanium dioxide market has been included for astute decision making. Impact of these drivers during the forecast period has been included with data to substantiate research findings. Furthermore, factors restraining market growth have been included for better understanding of the market. Impact of these restraints has been analyzed over the forecast period. The report also comprises various opportunities available for market growth over the next six years. Opportunities entail untapped or recently explored factors that are anticipated to drive growth of the titanium dioxide market during the forecast period.
This report includes value chain analysis to help understand the industry thoroughly. Value chain analysis comprises detailed evaluation of the roles of various entities involved in the titanium dioxide industry, from raw material suppliers to end-users. Various processes used in the manufacture of titanium dioxide have been included in the value chain analysis. Porter’s Five Forces model has been employed to determine the degree of competition in the market during the forecast period. Company market share analysis has been included for better understanding of the competitive landscape. Company market share analysis includes the market share of dominant players in 2014, based on their production capacities. Furthermore, market attractiveness analysis has been carried out to analyze application segments that are expected to be lucrative during the forecast period. This is based on various factors such as market size, growth rate, profitability, raw material procurement, and competition in each application segment.
Based on application, the titanium dioxide market has been segmented into paints & coatings, plastic, paper, and others. Detailed analysis of all the segments in the regional and global markets, and forecast based on current and future trends in the industry in terms of volume (kilo tons) and revenue (US$ Mn) have been included in the report. In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand for titanium dioxide in each of its application segment has been analyzed and forecasted for a period of eight years.
The report also covers profiles of leading companies in the titanium dioxide market. These include The Chemours Company, CRISTAL, Kronos Worldwide Inc., and Tronox Limited. Various attributes of these companies such as company overview, business strategies, and recent developments form the core of the company profiles section.
This report segments the global titanium dioxide market as follows:
- Titanium Dioxide Market - Application Analysis
- Paints & coatings
- Others (Including artificial fibers, inks, etc.)
- Titanium Dioxide Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- North America